Gov. Jerry Brown signs two-year extension of film tax credit
Gov. Jerry Brown on Sunday approved a two-year extension of the state’s tax credit for films and television shows shot in California, providing up to $200 million in breaks.
The governor agreed that extending the credit program to July 1, 2017, was justified in light of the problem of runaway film production, where Hollywood companies are lured to other states that offer tax breaks and other cost-cutting.
The governor signed two nearly identical bills, AB 2026 by Assemblyman Felipe Fuentes (D-Sylmar) and SB 1197 by Sen. Ron Calderon (D-Montebello).
“Every politician nowadays talks about job creation but for too many it’s just a political catchphrase,” Calderon said. “With the signing of my bill, Gov. Brown joins me in demonstrating that we’re serious about keeping good jobs right here in the Golden State.”
-- Patrick McGreevy, Los Angeles Times